Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.
AUD/USD is chasing the “Shark”
SELL 0.7880, SL 0.7935, TP 0.7760
On the daily chart, AUD/USD keeps correction to the uptrend. For its further development bears need to pull the prices below 0.7900 and renew correction low at 0.7875. In this case, the “Shark” pattern will be triggered. Its 88.6% target corresponds to the lower border of the medium-term uptrend.
On H1, AUD/USD keeps consolidating in the 0.7880-0.7965 area in line with “Shakeout-Fakeout” and “Spike and ledge” patterns. The break of support at 0.7880 will be a signal for the development of correction towards 0.7760.
Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.
Recommendations: BUY 1302 SL 1287 TP1 1…
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.